Vicinity Centres CCI Insight Report November 2019
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
2019 Insight Report: Your route to impact
Thank you for participating in the LBG benchmarking for 2019. Brought to you by Corporate Citizenship, this company report, together with the aggregated results from 2019 http://www.lbg-online.net/review2019/ contains valuable information. The LBG methodology allows a company to form a reliable and holistic view of its community investment, from what is contributed, what happens and what changes as a result.
Over the past 20 years, over 300 companies around the world have engaged in the LBG network to apply, develop and enhance the framework. LBG is now widely regarded as the international standard for measuring corporate community investment. It acts as a;
• management tool, • a private benchmark, • and a network of professionals
This report is designed to provide you with valuable benchmarking insights and recommendations for program improvements. Corporate Citizenship will be happy to discuss the report in more detail and highlight the opportunities it demonstrates.
The infographic page of this report acts as a summary of your results for you to use when sharing your results internally as well as a source of pointers where you could evolve your current program. The LBG team are always on hand to discuss your report and the steps to impact in more detail.
This report details your contributions for 2019, benchmarked against companies from your sector and against the Australia & New Zealand member companies who have participated this year. Further comparisons can be made through the self-benchmarking feature of LBGOnline. You also have access to global LBG data to make further benchmarking comparisons from around the world. Ask Corporate Citizenship should you need help accessing this data.
Today businesses continue to evolve and diversify the ways they seek to create social and environmental impact through business activities. In response, the LBG framework is extending in 2020 to include two additional routes which member companies, can consider incorporating into their programs, measurement, reporting and communications on social impact: Business Innovation and Social Procurement. You can learn more by talking with your LBG team or from the latest annual review here www.lbg-online.net/wp- content/uploads/2019/10/LBG-Annual-Review-2019.pdf
We look forward to continuing the journey to build further value for your business and for the community for the next 20 years.
Best wishes, Corporate Citizenship
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
LBG is evolving in 2020 – Business Investment for Social Impact
This expansion of the LBG Framework in 2020 to include Business Innovation and Procurement for Social Impact, adds to the globally recognised methodology used by hundreds of companies articulating their voluntary activities in the wider community.
These two new routes support companies aiming to create social impact, while also meeting their commercial objectives. The newly expanded Framework, in development over the past five years, has been tested by senior practitioners from close to 20 global companies operating across the US/EMEA & Australasia. Working with global third-party stakeholders, and following an intense series of roundtables based on themes including:
Choosing a project, Applying the criteria and Measurement & Reporting, a series of practical ‘How to’ guides has been created from this document, to allow members to apply the Framework and ensure commonality in approach, in turn providing rigour and confidence to communications.
For more information please contact your LBG team.
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
Vicinity Centres - CCI Insight Report Where to from here?
Vicinity Centres has contributed $1,260,215 made up of cash, volunteer time, in-kind goods or services and the management costs of running their programs. This investment in the community has resulted in the following outputs and impacts. (All $ figures are in AUD)
Employees Contribution as % of total Contribution as % of Contribution per Funds Leveraged Volunteering revenue pre-tax profit Employee
12% 0.10% 0.36% $1,249 $418k
Inputs Outputs Impacts What’s Contributed? What Happens? What Changes? Cash 478,821 43,632 Total Beneficiaries 0 positive change in behaviour/attitude Time 38,129 1,819 Supported Organsiations In-kind 135,688 460 Employees involved 0 developed new skills or increased personal effectiveness Management 607,577 Funds Leveraged $418,377
Costs Foregone Revenue $1,474,346 0 improved quality of life/wellbeing
• Continue the strategic approach with • Ensure community and business-related outputs are • Consider program impacts (business and Community investment increasing away measured over time community) to achieve the full value of your from charitable donations • Leverage (contributions from third parties) can often investments • Review mechanisms to collect all inputs be missed • Capture what is strategically aligned for your including in-kind, time and management • Capture your foregone revenue, remember the actual organisation costs to ensure nothing is missed cost to business is an input and the difference • Consider building the business case for CCI by • Remove duplicate or redundant geographies between the cost and the value is foregone revenue capturing employee related data e.g. increasing or company focus areas or improving job related skills • Contribution as a % of profit - aspire to 1% • Consider building the capacity of key partners for effective impact data assessment These high-level insights are provided to Vicinity Centres to highlight opportunities to communicate good news stories or to indicate areas where further work will assist in validating programs, gain greater employee and community engagement and further value. The LBG team is available to discuss these insights in more detail.
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
ADDITIONAL INSIGHTS AND RESOURCES
Corporate Citizenship is pleased to refer LBG members to additional resources SDGs to gain further insights and information to build your community program. Corporate Citizenship has available a range of webinars and research papers exploring the progress by business globally in responding to the UN’s global Annual Review for Australia and New Zealand 2019 sustainable development https://corporate-citizenship.com/insight-type/sdgs/ Annually LBG combines the reported data from all reporting members from Australia and New Zealand together. This is provided alongside LBG data dating Sustainable Sponsorship: Creating lasting commercial and social impact back to 2006. www.lbg-online.net/review2019/ Explores the value that can be obtained by business of sustainable sponsorship https://corporate-citizenship.com/our-insights/sustainable-sponsorship/
Transformation: Towards Societal Impact Additional LBG Services LBG produces a global review of LBG each year and LBG: Transformation:
Towards Societal Impact, the global annual review for 2019, is available here LBG for Community - http://www.lbg-online.net/wp-content/uploads/2019/10/LBG-Annual-Review- by becoming an LBG certified community partner your partners will be better able to report data back to you. They will share the same 2019.pdf principles of corporate community investment and speak the same language.
Together you will be better placed to make the most of your investments Business Investment for Social Impact
Describes the planned innovation to the LBG framework extending it during 2020 LBG + Impact – Tailored LBG social impact methodology workshop to link your to include business innovation and social procurement. Speak to your LBG company’s strategic objectives to the community investment strategy, clarify the contact to learn more strategic intent of a key partnership and agree the impact measures that will be
tracked over time
LBG+ Data – Hand over the analysis of data, records and documentation to us and we’ll take care of your data entry reporting
LBG + Your Story – Tell your social impact story with this bespoke communications package that matches good content with the right channels to share how your program is making a difference.
Please ask the LBG team for more information regarding these additional services
Contents
2019 Insight Report: Your route to impact ...... 2 1. Analysing and comparing total contribution ...... 7 1a. Contribution as a percentage of pre-tax profit ...... 7 1b. Contribution as a percentage of total revenue ...... 7 1c. Contribution per full time employee ...... 7 2. How Vicinity Centres contributed ...... 8 2a. Contribution ...... 8 2b. Benchmarked ...... 8 3. Why Vicinity Centres contributed ...... 9 3a. Motivation ...... 9 3b. Benchmarked ...... 9 4. What Vicinity Centres supported ...... 10 4a. LBG subject focus areas ...... 10 4b. Benchmarked ...... 11 4c. Vicinity Centres company specific subject focus areas ...... 12 4d. Indigenous contribution ...... 12 5. Where Vicinity Centres contributed ...... 13 5a. Geographic spend ...... 13 6. Vicinity Centres management costs ...... 14 6a. Analysis of Vicinity Centres management costs ...... 14 6b. Management costs as a percentage of total contribution ...... 14 7. Leverage - facilitated third party contributions ...... 15 7a. Vicinity Centres leverage analysis ...... 15 8. Vicinity Centres employee involvement ...... 16 9. LBG Australia & New Zealand headline performance ...... 17 11. The LBG Network ...... 18
1. Analysing and comparing total contribution The three indicators represented below enable members to make a comparison of their total contribution against their sector and the reporting membership as a whole.
1a. Contribution as a percentage of pre-tax profit
1b. Contribution as a percentage of total revenue
1c. Contribution per full time employee
2. How Vicinity Centres contributed
Breakdown of cash, time, in-kind & management costs. This breakdown of figures can be used to Inform management decisions about the future direction of community activity, to further understand how your community activity compares with peers and/or ‘best-in-class’ companies and to communicate results to key audiences.
2a. Contribution
2b. Benchmarked
Cash
Time
In-kind support
Management costs
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
3. Why Vicinity Centres contributed
Motivations matter. They are what drives a company’s CCI. The LBG Framework enables community activities to be classified according to three categories of motivation. This analysis provides an indication of the strategic nature of the community programme, shows the degree to which it is aligned with wider business goals and helps companies understand the extent to which they are driving their contributions OR are being driven by external demands and circumstances.
3a. Motivation
3b. Benchmarked
Charitable Donation
Community Investment
Commercial Initiative
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
4. What Vicinity Centres supported
The LBG model enables businesses to build up a picture of the issues that their community contributions tackle. These are broken up in to ‘LBG Subject Focus Areas’ and Vicinity Centres company specific focus areas.
The LBG Subject Focus Areas are broadly aligned to the main charitable purposes identified by national and international bodies such as the Australian and UK charities commissions and the US Internal Revenue Service.
4a. LBG subject focus areas
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
4b. Benchmarked
Education & Young People
Health
Economic Development
Environment
Arts & Culture
Social Welfare
Aid & Development / Emergency Relief
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
Other
4c. Vicinity Centres company specific subject focus areas
4d. Indigenous contribution
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
5. Where Vicinity Centres contributed
By collecting data from around its operations a business is able to build up a picture of the degree to which it invests in the different communities and locations in which it operates. This is particularly useful to assess the extent to which a company’s investment in the community reflects its geographic structure, i.e. is it investing in the areas in which it does business?
5a. Geographic spend
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
6. Vicinity Centres management costs
LBG Australia & New Zealand provides analysis of the management overheads associated with running a community investment program. Management cost categories include:
1. Staff salaries & benefits for corporate community investment staff 2. Operating expenses including overheads, research, evaluation and other CCI resources 3. Publicity and communications of community engagement including communications costs 4. Workplace giving programs costs
6a. Analysis of Vicinity Centres management costs
6b. Management costs as a percentage of total contribution
Number of staff dedicated to community investment
Vicinity Centres LBG member average 2 4.5
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
7. Leverage - facilitated third party contributions
Leverage is the capture of additional resources contributed to a community organization or activity that come from sources other than the company. Although these are in essence an additional input to the supported organization, they are reported on the output side of the Framework as they result from the company’s own contribution, encouragement or support. Leverage can be made up of cash, time or in-kind contributions.
7a. Vicinity Centres leverage analysis
Vicinity Centre’s Leverage total Value of leverage compared to Vicinity Centre's total contribution $418,377 33%
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
8. Vicinity Centres employee involvement
Employee involvement in a company’s CCI program is an effective engagement mechanism. Employees who feel the company they work for is socially responsible, and that the company values align with their personal values, are proven to be more engaged and have higher levels of job satisfaction.
Making a workplace giving contribution
Actively volunteering during company time
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
9. LBG Australia & New Zealand headline performance
Headline performance, LBG AU & NZ 2019 AUD$ 2018 AUD$ 2017 AUD$ Total contributions reported $307,500,394 $279,746,608 $225,11,065 Contributions per employee $1,105 $1,063 $892 Total contributions as a percentage of pre-tax 0.79% 0.72% 0.61% profit Total contributions as a percentage of revenue 0.18% 0.18% 0.14% Average % of employees volunteering in paid 15.6% 15.3% 13.6% time Total leverage reported $71,520,329 $77,303,352 $81,625,811
10. Vicinity Centres community contribution snapshot
2019 community contribution 2019 AUD$ 2018 AUD$
Total community contribution 1,260,215 2,173,712.46
Total Revenue 1,286,500,000 1,335,300,000 Pre tax profit or EBITDA 346,100,000 1,218,700,000 Company FTE 1,009 1,175 FTE dedicated to CCI 2 2 Estimated % of data captured 100 100
Cash 478,821 979,649 Time 38,129 45,804 In-kind 135,688 274,983 Management Costs 607,577 873,276
Charitable Donations 111,353 211,367 Community Investment 360,561 786,938 Commercial Initiative 180,724 302,131
Leverage (facilitated third party 418,377 378,575 contributions)
Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
11. The LBG Network
The LBG network represents companies from across many sectors and geographies. This is reflected in the composition of Steering Group members, who advise and counsel on developments and direction. Their involvement enshrines the view of the practitioner in the delivery of LBG’s objectives.
Consumer Goods Santander UK Stockland Utilities & Services Schroders Tideway AkzoNobel Decorative Standard Chartered Unite Students AGL Paints UK Standard Life Vicinity Centres Anglian Water Bacardi Aberdeen Willmott Dixon Australia Post Bettys & Taylors of St James's Place Beach Energy Harrogate Suncorp Retail Centrica Coca-Cola Amatil UBS Deutsche Post DHL Coca-Cola European UniCredit ASDA Group Partners Verity Credit Union Boots DP Wor1d Diageo Zurich Coles EDP H&H Group Jeronimo Martins Galp Energia Japan Tobacco Legal & Insurance Kingfisher Jemena JT International SA Marks & Spencer National Grid JTI UK (Gallaher) Freshfields Bruckhaus Myer New Zealand Post Philip Morris Deringer The Co-operative Group* International GMHBA Group Northern Power Grid Management SA Linklaters The Southern Co- Port of Milford Haven RB Medibank operative SGN Woolworths Group Southern water Engineering& Media Thames Water Manufacturing Sports United Utilities Australian Turf Club Woodside Energy Ltd BAE Systems Liberty Global Europe Carlton Football Club Hitachi Group in Pearson Hawthorn Football Club Europe RELX Group Jaguar Land Rover Technology RHI Magnesita Pharmaceuticals *Members did not Rolls-Royce Plc ARM participate in 2019 Siemens AbbVie BT benchmarking Stora Enso Oyj AstraZeneca Deutsche Telekom AG Nokia Financial Services Professional Services Optus Sage ANZ Accenture Singtel Aviva AXA Experian STMicroelectronics Bank of Ireland KPMG Barclays PwC Travel & Hospitality BUPA BUPA Australia Property, Australian Pacific Credit Suisse Construction, Airports Corporation CYBG Plc Housing & Facilities Australian Rail Track Deutsche Bank Corporation First Abu Dhabi Bank BAM Construct UK Brisbane Airport Generali Berkeley Group Corporation HSBC British Land FirstGroup Intesa Sanpaolo Dexus Gatwick Airport Investec Hammerson Go Ahead Lloyds Banking Group Howard de Walden Heathrow Airport Ltd Maybank Management London City Airport National Australia Bank Intu Properties Plc Keolis Downer (Yarra Nationwide JLL Trams)* Provident Financial Mirvac Pty Plc Sydney Airport Prudential Payce Corporation Ltd RBS Shaftesbury Tabcorp Holding Ltd RSA Sinyi Realty Inc Corporate Citizenship - LBG Australia & New Zealand Annual Company Benchmarking Report 2018
Contact details
Simon J. Robinson – Director E: [email protected] T: +61 (0) 3 8639 0548 W: www.corporate-citizenship.com Twitter: @CCitizenship LinkedIn: https://www.linkedin.com/company/corporate-citizenship
Jennifer Saunders – Associate Director E: [email protected] T: +61 (0) 3 8639 0548 W: www.corporate-citizenship.com Twitter: @CCitizenship LinkedIn: https://www.linkedin.com/company/corporate-citizenship
Tara James – Senior Consultant E: [email protected] T: +61 (0) 3 8639 0548 W: www.corporate-citizenship.com Twitter: @CCitizenship LinkedIn: https://www.linkedin.com/company/corporate-citizenship